SBA

SBA Loan Department

At First Community Bank, we believe there’s nothing small about small businesses. They’re important to you, to us and to the success of our community. So we’ve established an entire department to provide complete financial solutions for your small business needs.

First Community Bank is an active participant in the Small Business Administration 7(a) government guaranteed lending programs as well as the SBA 504 Loan Program. And, FCB is a designated SBA Community Express, Patriot Express and SBA Express Lender, which allows the bank to offer expedited loan processing. We also participate in the Small/Rural Lender Advantage Initiative.

The SBA has recognized First Community’s SBA loan department for our success in small business lending with the 2007 SBA Rising Star Award for the Rio Grande Valley District the 2007 SBA 7(a) Volume award for the Corpus Christi Branch Office and 2007 Award Recognition for outstanding efforts in delivering assistance to the military community via the SBA Patriot Express Loan Initiative.

Drop by our Everhart location and meet Betsy Geddis, manager of our SBA Loan Department, and her entire team. With nearly fifty years of combined experience and the legendary First Community customer service, you’ll quickly see why we’re “money wise and people friendly” when it comes to small business banking.

7(a) Loan Program

First Community offers solutions to your small business needs for a short term working capital line of credit, long term permanent financing for real estate or equipment acquisitions, or long term working capital needs.

Use of Proceeds
Real estate acquisition, construction or refinance—up to 90% financing
Business acquisition—up to 80% financing available
Equipment acquisition
Debt refinance
Start up business

Terms
Up to 25 years for real estate financing
Up to 10 years for equipment or business acquisition financing
Up to 7 years for permanent working capital
Loan Amounts from $5,000 to $2,000,000
Eligible Business and Property Types
Almost all types of for-profit business and commercial properties are eligible. Certain restrictions and special conditions may apply to specific program utilized.

SBA 504 Loan Program

This program offers long term permanent financing for real estate acquisition or construction requiring as little as 10% down.
Heavy-Duty Equipment Acquisition—up to 90% financing available
SBA through Certified Development Companies offers second lien permanent financing up to 40% loan to value in a fixed rate up to 20 year loan. Rate determined at time of debenture sale.
Contact the SBA Department for complete details.